SB19-055
Reduce State Income Tax Rate
Concerning a reduction of the state income tax rate.
Session:
2019 Regular Session
Subjects:
Bill Summary
Fiscal Policy & Taxes
State Revenue & Budget
For income tax years commencing on and after January 1, 2019, the bill:
- Reduces both the individual and the corporate state income tax rate from 4.63% to 4.49%; and
- Reduces the state alternative minimum tax by 0.14%.
(Note: This summary applies to this bill as introduced.)